After a year of upheaval, Ivan the new treasurer managed to get his work audited by Ernie Gere. In addition to the audit, Ernie also helped us by explaining how he went about it. Ivan distributed Ernie's report at the board meeting in January 2014. "At the request of...
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SPVCA internal audit 9/2012
2012 marked the end of an era for SPVCA. At the board meeting on December 1, 2012, the new Treasurer Ivan said he would ask Stu and John U. if they would perform their usual internal financial audit for the Association. The following month, they had a date set. "Ivan...
SPVCA internal audit 9/2011
Stu and John U. audited the SPVCA treasury books for fiscal year 2011. They delivered their report to President Jim Valenti on 1/22/2012 with this summary statement: The year end balances of both bank accounts were verified. We made a random examination of the...
SPVCA internal audit 9/2010
Stu and John U. audited the SPVCA treasury books for fiscal year 2010. They delivered their report to President Rich Friscino on 12/1/2010.
SPVCA internal audit 9/2008
John Underwood and Ernie Gere audited the SPVCA treasury books for fiscal year 2008. They delivered their report to President Ed Olsen on 11/26/2008. With Stu as Treasurer, they found the books “in good order” and made no adjustments to the final numbers. They offered...
SPVCA internal audit 9/2007
John Underwood and Ernie Gere audited the SPVCA treasury books. They made some adjustments and recommendations, and delivered their report on 2/3/2008.
SPVCA internal audit 9/2005
John Underwood and Ernie Gere audited the SPVCA treasury books. With Stu Dornblaser as Treasurer, they found the books in “apple pie” condition.
SPVCA no internal audit 2004
Stu Dornblaser distributed a Statement of Financial Condition, but did not audit because he was treasurer.
SPVCA internal audit 9/2003
Stu Dornblaser and John Underwood audited the SPVCA treasury books. They made strong recommendations for better control of funds.
SPVCA internal audit 9/2002
Stu Dornblaser and John Underwood audited the SPVCA treasury books. They created receivables for unpaid County reimbursements, and recommended photographing insured assets.
SPVCA internal audit 9/2001
Stu Dornblaser and John Underwood audited the SPVCA treasury books for fiscal period ending 9/30/2001. They recommended increased documentation, and reported their findings to Ron Horst on 12/1/2001.
SPVCA internal audit 9/2000
Stu Dornblaser and John Underwood audited the SPVCA treasury books for fiscal period ending 9/30/2000. They made minor adjustments and recommendations, and reported their findings to Dick Thomas on 12/2/2000.
SPVCA internal audit 6/2000
Stu Dornblaser and John Underwood audited the SPVCA treasury books. They had to make a few adjustments because the bank accounts were not reconciled monthly.
SPVA internal audit 7/1982
Wow. What a big year for SPVA. Milo conducted his same audit, with his same cover letter, which was again broadcast to the members in the Association's newsletter. This year, the club brought in and spent a whopping $46,000! Also this year, Milo was the top principle...
SPVA internal audit 5/1981
I'm going to assume Milo conducted his same annual audit and delivered it with his standard form letter which he tweaked the previous year. Inna said it was attached to the July newsletter, but I couldn't find it in my scans. Maybe it's in the filing cabinet. Here is...
SPVA internal audit 5/1980
This year, Milo the "independent" auditor got a little more cautious. He had moved from fourth to second place in the list of CPAs on his firm's letterhead. (Two principles had retired.) This year, Milo added a new paragraph plus a new word to his same old form...
SPVA internal audit 5/1979
Milo once again audited SPVA's books for free. Once again, he submitted the financial statement with his same old form letter on James and Harris CPA letterhead. The Association had brought in and spent $9,800 and had $3,800 left in their two accounts at Atlantic...
SPVA internal audit 5/1978
SPVA member Milo again audited the Association's books for free. He delivered the report with his same old cover letter on his company's letterhead on 7/27/1978. The Association had brought in and spent $6,000. They were left with $3,800 in two accounts at Atlantic...
SPVA internal audit 5/1977
SPVA’s books were professionally audited by James and Harris Certified Public Accountants. Their format set the precedent for all internal audits thereafter.
SPVA internal audit 5/1976
On June 15, 1976, SPVA's books were audited by James and Harris C.P.A. firm. They provided the Association with a Statement of Cash Receipts and Disbursements, along with their standard form cover letter: We have examined the statement of cash receipts and...
SPVA internal audit 5/1975
In 1975, Milo Johnson repeated his favor of auditing the SPVA's treasury books. This year was more exciting than the last. This year, the Association had garnered almost $10,000 for a Fire Protection Fund. They spent $2,500 on a used fire engine. The club dues brought...
SPVA internal audit 5/1974
In the September, 1974 newsletter, Inna thanked Milo Johnson, CPA for again auditing the SPVA's books. He had provided the Association with a Statement of Cash Receipts and Disbursements, along with a cover letter on letterhead from James and Harris CPA firm, signed...
SPVA’s first internal audit 5/1973
September 8, 1973
After wrangling $10 dues and occasional donations out of their members, the new SPVA board did their best to provide fiscal transparency. Luckily, one of those $10 members was a professional accountant. Milo Johnson conducted a formal audit of the Association’s books, free of charge. He submitted his findings along with a form letter from his big-city firm, James and Harris CPAs out of Jacksonville.
Perhaps to convey an outsider’s impartial judgment, the form letter is signed by the principles of the firm, James and Harris. I only know it was Milo’s work because Inna thanked him in the newsletters of that time. Little did he know, his form letter would be mimicked for decades thereafter.
In a 1981 newsletter, Inna thanked Milo for also filing “the required forms with the IRS” all those years, in addition to the audit. I assume that means he was filing the tax returns.
In their first fiscal year, the South Ponte Vedra Association brought in $1,030 in dues from a whopping 103 members at a tiny $10 each. They spent over half of that on picnics. However, the final month of the year is always beefed up with the next-year’s dues, so they still had $1,032 in the bank at the end of their first fiscal year. The club banked with Sun Bank back then.
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